![]() Paul Krugman (Image by david_shankbone) Details DMCA | Russia may have annexed the peninsula with almost no opposition, but what it got from its triumph was an imploding economy that is in no position to pay tribute, and in fact requires costly aid. Meanwhile, foreign investment in and lending to Russia proper more or less collapsed even before the oil price plunge turned the situation into a full-blown financial crisis. I have no idea what will become of the Putin regime. But Mr. Putin has offered all of us a valuable lesson. Never mind shock and awe: In the modern world, conquest is for losers. |




